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psalm
Black Belt
Joined: 12 Nov 2011
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Post: #16  Posted: Mon Dec 26, 2011 12:12 pm Post subject: Stocks with Negative Bias |
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BEML
ABGSHIP
M&M
INFY
IRBINFRA
PETRONET
TATAMOTORS
ADANIENT
TTKPRESTIG
BFUTILITIE
I'm still maintaining my negative view regarding the above mentioned stocks. However, please note that it is possible that my perception of these stocks could be wrong. That's the reason why I want you to put strict Stop-losses. Happy Trades!!!!! |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #17 Posted: Tue Dec 27, 2011 3:03 pm Post subject: Ambuja Cement |
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| One stock which looks good technically is Ambuja Cement. However, I will not advise anyone to buy it at this point of time. If you see any correction in that stock, one should buy that stock. It's a stock for the Long-term portfolio I believe. |
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psalm
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Posts: 5368
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| Post: #18 Posted: Wed Dec 28, 2011 9:32 am Post subject: Hindalco |
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Hindalco:
The chart looks really really interesting. The stock closed around 120 today. It is poised for a target of 105 (slight support will be there at 109), I believe. The target should be reached within this weak itself (within 3 days). One can sell Hindalco between 120 and 122. The Stop-Loss for this trade is 123. The next target is 90, which doesn't look realistic as of now (all spot levels). |
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psalm
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Posts: 5368
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| Post: #19 Posted: Wed Dec 28, 2011 1:09 pm Post subject: BF Utilities - update |
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| psalm wrote: | | 312 is the next resistance of the stock BF Utilities. One can sell it around 308-310 range, with stop-loss above 312 (all spot values) for lower levels. The stock is currently trading around 304. |
The stock is currently trading around 288. If anyone has a SHORT position, they can hold it with a modified stop-loss just above 295. The first target is 280 and then second target is 265. |
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psalm
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| Post: #20 Posted: Thu Dec 29, 2011 9:53 am Post subject: Re: BF Utilities - update |
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| psalm wrote: |
BF Utilities:
The stock is currently trading around 288. If anyone has a SHORT position, they can hold it with a modified stop-loss just above 295. The first target is 280 and then second target is 265. |
The stock has achieved the first target. Today's Low is 280. However, if anyone holding it, they can modify the stop-loss at 286. The first target from here is 274 and then 265. |
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psalm
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Posts: 5368
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| Post: #21 Posted: Thu Dec 29, 2011 2:19 pm Post subject: JSW STEEL |
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| One can SELL JSWSTEEL at current price, I believe. The stop-loss should be just above 530 (Future rate). You can expect a target around 460 in the near future. For the day, the stock might go down to 508-510 levels. Since the Dec Contract expires today, one can look to sell the Jan Fut. |
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rk_a2003
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Joined: 21 Jan 2010
Posts: 2734
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| Post: #22 Posted: Thu Dec 29, 2011 3:31 pm Post subject: |
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| What happened to IFCI It tanked more than 15 % from Day high. Any News?! |
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psalm
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| Post: #23 Posted: Thu Dec 29, 2011 3:44 pm Post subject: |
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| Nope RK...I'm not aware of any news regarding that as of now. |
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anand1234
Yellow Belt
Joined: 17 Jul 2010
Posts: 830
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| Post: #24 Posted: Fri Dec 30, 2011 11:37 am Post subject: |
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hi...............
exide....... may rock in coming days...........wt u say??............current rate is 106.5
thanks
anand |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #25 Posted: Fri Dec 30, 2011 11:50 am Post subject: |
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| psalm, any 1-3-6 month view on axis bank? |
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sachin2278
White Belt
Joined: 13 Jun 2011
Posts: 21
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| Post: #26 Posted: Fri Dec 30, 2011 11:53 am Post subject: |
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| Plz post view on Idea |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #27 Posted: Fri Dec 30, 2011 11:58 am Post subject: BPCL |
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BPCL:
The stock appears weak as of now. However, I have a gut feeling that the stock is about to bottom out, at least for the medium term. I believe that a short term bottom around 445-450 levels will be formed in a few days. So, I'll be accumulating the stock in the range 465-450 with stoploss just below 445. However, if broken below 440, there is possibility of 370 levels, which i believe is a low probability thing.
Note: For the very short term traders, they can consider buying the stock between 455 and 448 with stoploss just below 445. The first target for them will be around 500. |
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psalm
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Posts: 5368
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| Post: #28 Posted: Fri Dec 30, 2011 12:16 pm Post subject: |
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| psalm wrote: | Vinod,
The stocks I have mentioned earlier with a negative bias are the ones which are at near their crucial resistances or supports. I have a Bearish View regarding the market. That's why I believe that these resistances wont be broken. Also, you can see that these stocks are not really participating the last up-move. This is my perception regarding these stocks. By saying all these things, I don't rule out an up-move. Another guy might interpret this scenario as a positive one. He might think that, "the resistance will be broken and then can have an up-move". It's up to you to decide which way you want to trade this market.
NOTE: Adani Enterprise is the one I'm very bearish about. The stock is currently trading around 315...if 330 is not crossed on the upside, you can DEFINITELY see levels of 260 (even 210) in a few days, I believe. |
The stock has started its journey to 260, I guess. I mean Adani Enterprises  |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #29 Posted: Mon Jan 02, 2012 2:57 pm Post subject: Exide |
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| anand1234 wrote: | hi...............
exide....... may rock in coming days...........wt u say??............current rate is 106.5
thanks
anand |
Exide Industries:
The stock might move upto 118-122 levels as long as it is above 100 levels. Breaking 122-125 levels will be pretty difficult as of now. Also, in the short run, it might experience resistance around 109. Medium term supports for the stock are 92 and 83. The long term support for the stock lies in the area 72-69. I do not see the stock going below 60 levels any time soon. So, for long term, one should buy in the range 83-72, I believe.
NOTE: Fundamentally, Exide is a very good stock. I believe one should have this stock in their portfolio, from the auto sector. |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #30 Posted: Mon Jan 02, 2012 2:59 pm Post subject: IDEA |
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| sachin2278 wrote: | | Plz post view on Idea |
Sachin,
I'm not really bullish about this stock in the short term. There are better opportunities, I feel. However, for the long term, its a good stock. The important levels for the stock are 77 and 63. If 77 is broken, then you can very much expect the stock to reach the 63 levels. On the upside, 88-90 levels will act as resistance to any moves. For the Long term investors, they should buy the stock around 65-60 levels. I don't see the stock falling below 51 levels anytime soon. In fact, I dont expect it to go below 51. However, even 60 levels are a long way down from here. So, one should wait patiently for the stock to buy for Long term, I believe. |
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